CardioNet Cuts IPO Terms

CardioNet Inc., a San Diego-based provider of wireless mobile cardiac outpatient monitoring solutions, has reduced its IPO terms to 3.4 million common shares being offered at between $18 and $20 per share. It had previously filed to price six million shares being at between $22 and $24 per share. 


The company still plans to trade on the Nasdaq under ticker symbol BEAT, with Citi serving as lead underwriter.


CardioNet has raised around $163 million in total VC funding, including a $110 million infusion last year. Shareholders include H&Q Healthcare Investors, Sanderling Ventures, Guidant Corp., Foundation Medical Partners and IngleWood Ventures.